Oil India Q3: profit drops 34% YoY, Rs 7 interim dividend, Russia exit cleared
OIL · price
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On the reaction day the stock moved 1.0 pts less than Nifty Midcap 150 and 0.8 pts less than its Oil peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Oil India standalone Q3 revenue Rs 4,916 cr, down 6% YoY. PAT fell 34% to Rs 808 cr. Nine-month revenue Rs 15,385 cr vs Rs 16,598 cr, PAT Rs 2,666 cr vs Rs 4,523 cr. Board declared second interim dividend of Rs 7 per share. Approved divestment of 50% stake in non-producing Russia Licence-61 asset, already fully provided for. Auditors flagged emphasis of matter on disputed GST and service tax on royalty, with cumulative provisions now at Rs 4,510 crore.
Profit dip and weak crude segment weigh on stock, but steady dividend, Russia cleanup, and clean audit opinion are positives for shareholders.